78,191 Shares in Uniti Group Inc. (NASDAQ:UNIT) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Uniti Group Inc. (NASDAQ:UNIT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 78,191 shares of the real estate investment trust’s stock, valued at approximately $228,000.

A number of other institutional investors have also made changes to their positions in UNIT. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Uniti Group during the second quarter worth $28,000. Meeder Advisory Services Inc. acquired a new stake in shares of Uniti Group during the second quarter worth $36,000. Everhart Financial Group Inc. acquired a new stake in shares of Uniti Group during the second quarter worth $41,000. Choreo LLC acquired a new stake in shares of Uniti Group during the second quarter worth $41,000. Finally, GAMMA Investing LLC grew its stake in Uniti Group by 49.8% in the first quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 2,960 shares during the period. 87.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 target price on shares of Uniti Group in a research note on Thursday, August 29th.

Insider Activity

In other news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total value of $113,050.42. Following the sale, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.39% of the company’s stock.

Uniti Group Trading Down 1.7 %

NASDAQ:UNIT opened at $5.62 on Friday. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.71. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 93.67 and a beta of 1.29. The stock has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $4.31.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). The firm had revenue of $294.90 million during the quarter, compared to the consensus estimate of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. Sell-side analysts forecast that Uniti Group Inc. will post 1.31 earnings per share for the current year.

Uniti Group Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.